Glass Lewis backs Teck-Anglo American merger deal

PROXY advisory firm Glass Lewis has recommended Teck Resources shareholders approve the proposed merger with Anglo American, describing the transaction terms as reasonable.The combination, announced in September, would create the copper mining sector’s second-largest merger and acquisition deal with a combined market capitalisation exceeding $53bn.Reuters cited Glass Lewis as saying in a report the merger offers Teck shareholders entry into a larger, more diversified critical minerals group with enhanced copper exposure. The advisory firm cited significant synergy potential and stronger long-term growth prospects than Teck could achieve independently.Shareholders are scheduled to vote on the transaction on 9 December.The deal would unite two major mining operations at a time when copper demand is expected to rise substantially due to electrification and renewable energy expansion. Both companies hold significant copper assets alongside other commodities.Glass Lewis’s endorsement carries weight with institutional investors who often rely on proxy advisers’ guidance when deciding how to vote on major corporate transactions, said Reuters.The firm’s approval suggests the merger structure and valuation provide adequate compensation for Teck shareholders whilst positioning the combined entity for future growth in critical minerals markets, it added.The post Glass Lewis backs Teck-Anglo American merger deal appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com